Crypto caught in liquidation flow
- Adam Reynolds
- Aug 3, 2024
- 1 min read

In market liquidations, all correlations head towards one with the past week being a prime example of that, especially after the BOJ pulled the rug on JPY financing of carry trades.
Taking a step back and looking over the last month BTC/USD has outperformed and is up, whilst ETH/USD is lower due to a disappointing reception for the ETH ETFs. SOL/USD also marginally higher over the last month. These compare favorably with equity markets performance, although they were all dragged lower late on Friday.
1 month performance
$BTC/USD +6.8%
$ETH/USD -4.2%
$SOL/USD +1.3%
Compared to equity performance
$QQQ -8.9%
$NVDA -12.5%
Nikkei -14.7%
With the September FOMC meeting now live and heading towards a 50bp cut, and another 25-50bp being priced in for rest of the year, use this dip to buy ahead of the lows seen in early July, around 55k for BTC/USD.
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